Hi all,
In the past weeks, I have sold some BTC, and I have my initial investment (about $5000) out. Which means that everything I have in BTC now (about $8000) is "free". That is fine, but I am thinking about what to do with the money I took out:
- Put it in a less volatile investment, as a long term safeguard
- Reinvest it in BTC as soon as the price drops (it eventually will, but when?)
In the first case, I have secured my initial investment in the long term, so I won't need to worry about it, but it also won't make much more for me.
In the second case, the potential for gains is much higher, but I still risk losing my initial investment. I don't need the money now, but I would feel sorry about it.
I plan on keeping what I have left in BTC for the long term. My question is purely about the initial investment that I took out again.
What's your opinion? Thanks!
The strategy to use depends on you or something that could you think could work in your situation, most people just buy bitcoin invest in it, and then come back after a few years to see if it has a good profit, they pick that method because they were just not the kind of daily trading guy or they are busy to other work so its the best strategy for them.
And then there are people who buy bitcoin and then sell when the market price is high and then reinvest in bitcoin again when the market price dump for a higher profit.
Probably waiting for a few years might not be worth it compared to daily trading where you could already get your profit, if you don't really need the money, for now, it's better to just invest your money for long term investment. But you could still risk it selling it and then put it in a savings account where it could earn a good interest and then take it out and reinvest again when the market is dump again.